Seanad debates
Wednesday, 22 February 2023
Central Bank (Individual Accountability Framework) Bill 2022: Report and Final Stages
10:30 am
Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source
I thank the Senator and understand the point she is making with these amendments. I have looked at them carefully. The Senator is trying to insert references to this "or other relevant legislation” and this set of obligations or other relevant obligations.
Two difficulties arise with the amendments. One is they do not define relevant legislation or obligations, which we must do to provide certainty in legislation. The second is if one has those obligations under this Act and under another Act, one still has obligations under the other Act. The obligations are there in any event. The Senator had amendments ruled out of order regarding human rights and other points but all of those things are already in law.
I feel comfortable that this is an expansive piece of law and adds to a regulatory framework, rather than taking from it or diminishing responsibility in any way. This adds significant burden, responsibility and obligations. It is not removing anything in law or diminishing any obligations or requirements under other legislation. For those reasons, I am not accepting the amendments. I do not believe they are necessary and they would be difficult from a drafting perspective.
No comments